KKR Said to Buy Stake in BlackGold for Hedge Fund Growth
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KKR & Co., the private-equity firm led by George Roberts and Henry Kravis, agreed to buy a stake in hedge fund BlackGold Capital Management LP as it continues to grow beyond buyouts, said a person with knowledge of the deal.
KKR will take a 24.9 percent stake in Houston-based BlackGold, which makes credit investments in energy-related companies and assets, said the person who asked not to be identified because the transaction hasn’t been announced. KKR will share in BlackGold’s earnings, which include fees for managing money and for producing profits, the person said.